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easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> better than expected numbers on the labor front for november out this morning. u.s. businesses added 146,000 jobs last month and the unemployment rate slipped to 7.7%, the lowest level in four years. of course, that's not the whole story because you had more people dropping out of the labor force. >> well, the former chairman of the council of economic advisers, now a senior fellow at the hoover institution. he joins us with his reaction. would you give it a, what, out of ten? >> i gave you part of the answer too, by the way. you're welcome. >> out of ten, what score would you give this report, ed? >> i would give this a three. this report is a perfect microcosm of the recovery. the job creation number was about 146,000, you know, over the past three years we've been averaging about 150,000 a month. the problem with that is that we need 117,000 a month just to keep pace with the growing population. so that
easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> better than expected numbers on the labor front for november out this morning. u.s. businesses added 146,000 jobs last month and the unemployment rate slipped to 7.7%, the lowest level in four years. of course, that's not the whole story because you had more people dropping out of the labor force. >> well, the former chairman of the council of economic advisers, now a senior fellow at the...
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Dec 7, 2012
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tell us how business is and how you view the economy right now. >> business for us is great. we're going to set an all-time record. in fact we'll finally surpass our all-time high in 2007. in 2007 just before the recession, that's when the auto market was around 17 million units. it's only going to hit about 14.5 this year but despite that we're going to surpass our sales record from 2007. even though the recovery has been mixed and unemployment has stayed high, we are bucking that trend with a pretty positive sales result. >> does the fiscal cliff debate and the lack of a resolution at this point impact your business at all? are you hearing from your customers that they might put off a purchase or they're worried about making a purchase given the lack of resolution in washington? >> predominantly it is the uncertainty. on the consumer side, absolutely it has an impact. kind of daily reports of doom that come out all of the media channels. zblipts's playing out on our channels. >> it reinforces consumer skepticism. absolute impact on consumer sent many so it leads to postponi
tell us how business is and how you view the economy right now. >> business for us is great. we're going to set an all-time record. in fact we'll finally surpass our all-time high in 2007. in 2007 just before the recession, that's when the auto market was around 17 million units. it's only going to hit about 14.5 this year but despite that we're going to surpass our sales record from 2007. even though the recovery has been mixed and unemployment has stayed high, we are bucking that trend...
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Dec 7, 2012
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we use less wood. and we can give them electricity. >> so i spent a lot of time thinking about apple. everybody does. apple down another 14, up 50. people worry about apple because is it doesn't have an omg factor. that's the word. when you show this around, do not people just -- jaws drop, right? >> well, it's amazing. especially our customers are our best advertisers, right? they're the people who are posting hundreds of youtube videos. but it's the psalm thing in emerging markets. so we go to do a demonstration in india, and really cooking is traditionally a woman's task in those communities and we have the men pushing to the front and center of the circle because they want to charge their cell phones. so it creates this really great dynamic where at one time it's a health intervention that's hopefully going to save a couple million lives every year, but the draw is for the same commercial reasons that we would want to have them here. >> now, i would want one of these in my trunk, right? >> right. >
we use less wood. and we can give them electricity. >> so i spent a lot of time thinking about apple. everybody does. apple down another 14, up 50. people worry about apple because is it doesn't have an omg factor. that's the word. when you show this around, do not people just -- jaws drop, right? >> well, it's amazing. especially our customers are our best advertisers, right? they're the people who are posting hundreds of youtube videos. but it's the psalm thing in emerging...
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Dec 7, 2012
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send us your predictions. you can e-mail us, worldwide@cnbc.com, tweet @cnbcwex, or even get direct to myself, @rosswestgate. and while we wait for the employment report, more thoughts about where european growth is going. drifting away. the bundesbank has warned of a possible recession in germany. central bank cutting its growth forecast for the eurozone's biggest economy and that expects growth to reach just 0.4% in 2013. a big cut from previous forecasts of 1% and 1.6%. there's also no political crisis in italy by the way. support has been withdrawn for the group run by monti. berlusconi hinted he may return to politics after stepping down last year. claudia joins us in milan. a number of reports suggested this may not upset investors too much just because we were going to have elections anyway, it doesn't bring it forward a lot earlier. is that the sense that you're getting? >> yes, it doesn't really change in terms of the timing. it just gives you an idea, though, of where berlusconi stands and what the s
send us your predictions. you can e-mail us, worldwide@cnbc.com, tweet @cnbcwex, or even get direct to myself, @rosswestgate. and while we wait for the employment report, more thoughts about where european growth is going. drifting away. the bundesbank has warned of a possible recession in germany. central bank cutting its growth forecast for the eurozone's biggest economy and that expects growth to reach just 0.4% in 2013. a big cut from previous forecasts of 1% and 1.6%. there's also no...
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Dec 7, 2012
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easy to use. it's the ultimate combination of speed, small size, and low-cost printing. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> welcome back. you can see the dow futures are down by about 23 points. s&p down by 2.25 points. in our headlines, head of irs warns if congress fails to reset the alternative minimum tax, there could be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and
easy to use. it's the ultimate combination of speed, small size, and low-cost printing. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our...